Norwegian Air Shuttle ASA (OSL:NAS)

Norway · Delayed Price · Currency is NOK

12.86

+0.32 (2.55%)

Aug 24, 2026, 4:27 PM CET

Norwegian Air Shuttle ASA Financials Overview

Financials in millions NOK. Fiscal year is January - December.

Millions NOK. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	38,087	37,646	35,316	25,539	18,869	5,068
Revenue Growth	3.79%	6.60%	38.28%	35.35%	272.34%	-44.28%
Gross Profit	7,530	7,906	6,540	5,142	1,657	-1,892
Operating Income	1,659	3,323	2,166	2,268	-604.3	-3,518
Net Income	1,617	2,646	1,213	1,611	919.6	1,839
Earnings Per Share	1.53	2.49	1.20	1.54	0.89	2.68
EPS Growth	-5.00%	107.40%	-22.01%	72.56%	-66.66%	-

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024
Elimination	-348	-349	-269
Widerøe	8,020	7,903	7,241
Norwegian	30,415	30,092	28,344
Total	38,087	37,646	35,316

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	13,700	10,059	10,880	9,478	7,759	7,695
Total Debt	18,965	19,551	16,078	14,025	10,085	9,377
Net Cash (Debt)	-5,265	-9,492	-5,198	-4,548	-2,326	-1,683
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-5.00	-8.74	-4.61	-4.04	-2.07	-2.41

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	8,362	7,840	6,946	5,258	2,426	139.1
Capital Expenditures	-3,537	-5,410	-1,232	-502.9	-854.6	-6.1
Free Cash Flow	4,825	2,430	5,714	4,755	1,571	133
Free Cash Flow Growth	19.44%	-57.47%	20.18%	202.63%	1081.28%	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	19.77%	21.00%	18.52%	20.14%	8.78%	-37.32%
Operating Margin	4.36%	8.83%	6.13%	8.88%	-3.20%	-69.43%
Pretax Margin	3.94%	8.01%	3.84%	7.06%	5.55%	37.02%
Profit Margin	4.25%	7.03%	3.44%	6.31%	4.87%	36.28%
FCF Margin	12.67%	6.46%	16.18%	18.62%	8.33%	2.62%

Dividends

Fiscal Year	Current	FY 2025
Period Ending	Aug '26 Aug 25, 2026	Dec '25 Dec 31, 2025
Dividend Per Share	1.600	1.700
Dividend Per Share Growth	0%	-
Dividend Yield	12.42%	10.28%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 25, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	8.17	6.94	8.74	6.40	7.43	5.43
Forward PE	7.47	8.52	6.60	11.85	20.82	12.07
P/FCF Ratio	2.73	7.56	1.86	2.17	4.35	75.05
PS Ratio	0.35	0.49	0.30	0.40	0.36	1.97